Remain long towards 1.3337 | 30 August 2017
30 August 2017, GBP/USD
Technical Observation:
According to the weekly chart above, Gbp is still showing signs it could rise further towards 1.3337. However, at the moment, the key resistance line that Gbp has to break above to confirm the expected upward rally is 1.2969. If this resistance line is broken, then this will be a confirmation that the price is rising towards 1.3337. On the other side, if price breaks below 1.2908, then this will mean the price could fall further towards 1.2117. On it's way downwards, key support lines are seen at 1.2791 and 1.2627. These lines are key support line and could also act as buy lines.
Technical levels:
Resistance levels
R31.30217
R21.30003
R11.29573
Pivot
1.29359
Support Levels
S11.28929
S21.28715
S31.28285
Trade Signal
Remain long towards 1.3337
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
